GUILLERMO CHAPMAN

Mr. Chapman holds Bachelor of Arts (1957) and Master of Arts degrees in Economics and Finance (1961), Louisiana State University. Since 1999, he serves as Chairman of the Board and C.E.O. of INDESA a firm of economic and financial advisors with over 30 years experience in tracking the economy and consulting for business and government. From 1994 to 1998 he served as Minister of Planning and Economic Policy, Republic of Panama. In this capacity he implemented a modernization plan that included a general reduction of import duties, privatization of public services, restructuring and reduction of public debt and modern legislation on banking and securities. From 1964 to 1968 he served as Special Ambassador to the United States, member of the Panama Negotiating Mission on the Canal Treaties. From 1961 to 1963 he was a member of the Staff to the President of Panama, and previously held the position of Economist, Ministry of Public Works, Panama. In 1957-1958 he worked for Citibank, Panama and has also held positions in Investment Banking in Central America. Mr. Chapman has authored essays, articles and co-authored and edited several books. He serves on the Boards of Directors of several private corporations. He is active in public affairs, civic groups, trade organizations and sports.